Eight out of 10 people looking to move home during the next five years want a smart home and are willing to pay nearly 8% more for the privilege, research from Samsung reveals.
The tech giant says home movers across the nation, whether they’re renting or buying, are willing to pay a premium of 7.7% on the average UK house price – around £21,774 – if it will equip the gadgets they need.
ENERGY EFFICIENCY
Seven out 10 want to improve energy efficiency with smart tech with a similar number (63%) believing a ‘smart home’ would save them money.
Samsung’s research reveals smart homes are expected to see a compound annual growth rate of 11.66% between 2024 and 2028 and generate projected revenues of approximately £8.6 billion in 2024 alone.
Samsung’s Smart Home Buyers Index 2024 also revealed that financial concerns were chief among those looking for a smart home.
As well as the 63% of people who wanted cost savings through technology, around 70% of respondents highlighted energy efficiency as a key motivation in using smart technology, with 84% wanting to save money on their energy bills.
INCREASE VALUE
Mark Seaman, Head of Samsung B2B Integrated Offering Team, says: “The data shows that understanding the importance consumers place on smart homes will increase the value of rental and sale prices to help drive return on investment for homebuilders and developers.”
He adds: “It’s critical that homes can support ongoing technology development and adapt to the ever-evolving landscape for smart devices and appliances.
“The sole focus shouldn’t be on providing technology for the short-term but on ensuring that homes are future-proofed.
“There is a real opportunity for developers and homebuilders to engage the right partners and integrate technology from the outset, taking a digital-first approach when building the homes of tomorrow, today.”
